FleetPride seeks $60 million add-on term loan at discount of 99¾

By Sara Rosenberg

New York, May 22 - FleetPride Inc. is looking to get a $60 million add-on term loan that is being offered at an original issue discount of 993/4, according to a market source.

Pricing on the add-on matches existing term loan pricing at Libor plus 550 basis points with a 1.25% Libor floor, the source said.

Like the existing loan, the add-on has 101 soft call protection until December.

Bank of America Merrill Lynch is leading the deal that launched with a call earlier this week.

Proceeds will be used for acquisition financing.

Commitments are due at 5 p.m. ET on Thursday.

FleetPride is a Woodlands, Texas-based distributor of heavy truck and trailer parts.

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